Majority of Pearls Centre owners, tenants accept government compensation

The majority of owners and tenants at Pearls Centre have accepted the government’s compensation for the acquisition of the building.

Authorities are taking possession of the centre to make way for the upcoming Thomson MRT line.

On March 27, the government had announced a S$450-million compensation package for the acquisition of Pearls Centre.

The Singapore Land Authority (SLA) said 241 out of 243 owners have accepted the package, which comprises statutory compensation and an ex-gratia payment.

In response to the requests made by the two remaining owners, the SLA has extended the time given for them to respond.

As for the tenants, 174 out of 175 eligible tenants have accepted the government’s offer of ex-gratia payment.

SLA said it will be prepared to extend the time given for the one tenant who has yet to respond, if he has a valid reason.

There are also no longer any appeals from the Pearls Centre owners and tenants.

Owners and eligible tenants had the legal right to file appeals with 14 days from the date of the Collector’s Award on 27 March 2013, if they were dissatisfied with the statutory compensation offered.

SLA said two appeals were filed but were subsequently withdrawn on 24 April 2013.

The units at Pearls Centre will be handed over to the state in August 2014.

Pearls Centre was gazetted for compulsory acquisition on 29 August 2012 for the construction of the Thomson MRT line and comprehensive redevelopment.

On 27 March 2013, the government informed eligible owners and tenants of the statutory compensation and ex-gratia payment amounts for the compulsory acquisition of Pearls Centre.

On 8 April 2013, in response to feedback, the government increased the ex-gratia payment amounts to further mitigate the financial impact of the acquisition exercise.

SLA will continue to stay in touch with affected owners and tenants and provide the necessary assistance.

Source : CNA – 25 Apr 2013

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